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Cabinet approves letter of guarantee for Gort to Tuam road project
Galway Bay fm newsroom – The cabinet is to issue a letter of guarantee in a bid to ensure the Gort to Tuam road project secures the funding it requires.
The guarantee will assist the National Roads Authority as it engages with overseas banks to assess interest in funding the project.
The government made a committment of 20 million euro to the private public partnership project earlier this year.
It’s now hoped the necessary funding will be in place by the middle of next year after which construction can proceed.
Minister of State and Galway East TD Ciaran Cannon says the letter is a key committment for a project which will provide key infrastructure and a much needed jobs boost.